Requirements a. Compute the balance required in the allowance for uncollectible accounts at the end of the year. b. Prepare the journal entry to record the bad debt provision for the current year. Independent of your answer to part (b), prepare the journal entry to record the bad debt provision for the current year assuming that the allowance for uncollectible accounts had a $30,000 debit balance. c. Giaraldi Garden Products: Aged Schedule of Accounts Receivable Past Due Customer Current 1-30 Days 31-60 Days 61-90 Days Totals Over 90 Days 34,500 $ Carey Company 10,000 $ 44,500 Gibson Ltd. 423,000 $ 27,000 450,000 33,000 $ 1,500 101,500 KW Quarterly Onix Construction 67,000 100,000 45,000 90,500 235,500 512,500 387,000 125,000 500 Carpenter Lumber $ 810,000 $ 185,000 $ 167,000 $ 55,000 $ 127,000 $ 1,344,000 Totals Aging Allowance Category Provided Current 3% 6% 1-30 days past due 31-60 days past due 18% 61-90 days past due 45% Over 90 days past due 100% Giaraldi Garden Products, Inc. developed an aged schedule of accounts receivable at the end of each year. (Click the icon to view the schedule of accounts receivable.) Giaraldi reported net credit sales of $18,500,000 for the current year. We present the company's ending balances of accounts receivable and the allowance for uncollectible accounts: (Click the icon to view the T accounts.) Read the requirements. The company estimated an allowance for uncollectible accounts based on the following estimates: (Click the icon to view the allowances provided.) Requirement a. Compute the balance required in the allowance for uncollectible accounts at the end of the year. Glaraldi Garden Products: Aged Schedule of Accounts Receivable Past Due Current 1-30 Days 31-60 Days 61-90 Days Over 90 Days Total Totals Allowance % % % % Allowance needed Requirement b. Prepare the journal entry to record the bad debt provision for the current year. (Record debits first, then credits. Exclude explanations from any joumal entries.) Account Current Year Requirement c. Independent of your answer to part (b), prepare the journal entry to record the bad debt provision for the current year, assuming that the allowance for uncollectible accounts had a $30,000 debit balance. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Current Year